Source: PaxForex Premium Analytics Portal, Technical Insight
The U.S. stock market closed Monday's trading multidirectional due to the strengthening of commodities, technology and oil and gas sectors. The market is demonstrating on the back of the negative dynamics in the telecommunication, utilities and consumer goods sectors. The NASDAQ Composite Index rose 0.87%.
Nasdaq 100, H4
Pivot: 14035.00
Analysis:
Provided that the index is traded above 13920.00, follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 14035.00
- Take Profit 1: 14150.00
- Take Profit 2: 14210.00
Alternative scenario:
In case of breakdown of the level 13920.00, follow the recommendations below:
- Time frame: H4
- Recommendation: short position
- Entry point: 13920.00
- Take Profit 1: 13845.00
- Take Profit 2: 13715.00
Comment:
RSI indicates an uptrend during the day.
Key levels:
| Resistance | Support |
| 14350.00 | 13920.00 |
| 14210.00 | 13845.00 |
| 14150.00 | 13715.00 |
Nasdaq 100, D1
Pivot: 13930.00
Analysis:
Provided that the index is traded above 13300.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 13930.00
- Take Profit 1: 14220.00
- Take Profit 2: 14560.00
Alternative scenario:
In case of breakdown of the level 13300.00, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 13300.00
- Take Profit 1: 12620.00
- Take Profit 2: 12200.00
Comment:
RSI is bullish and indicates further increase.
Key levels:
| Resistance | Support |
| 14650.00 | 13300.00 |
| 14560.00 | 12620.00 |
| 14220.00 | 12200.00 |
